Securities code: Wuhu Conch Profiles And Science Co.Ltd(000619) securities abbreviation: Wuhu Conch Profiles And Science Co.Ltd(000619) Announcement No.: 202218 Wuhu Conch Profiles And Science Co.Ltd(000619)
Announcement on changes in accounting policies
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.
1、 Overview of changes in accounting policies
1. Reasons for changes in accounting policies:
(1) On January 26, 2021, the Ministry of Finance issued the notice on printing and distributing the interpretation of accounting standards for Business Enterprises No. 14 (CAI Kuai [2021] No. 1) (hereinafter referred to as "interpretation of Standards No. 14"), which stipulates the accounting treatment of social capital parties on government and social capital Cooperation (PPP) project contracts and the accounting treatment of changes in the basis for determining the cash flow of relevant contracts caused by the reform of benchmark interest rate.
(2) On December 30, 2021, the Ministry of Finance issued the notice on printing and distributing the Interpretation No. 15 of the accounting standards for business enterprises (CAI Kuai [2021] No. 35) (hereinafter referred to as "the Interpretation No. 15 of the standards"), which stipulates the accounting treatment of the external sales of products or by-products produced before the fixed assets reach the expected usable state or in the process of research and development, and the relevant presentation of centralized fund management Judgment on loss contracts.
2. Date of accounting policy change: the above changes shall be implemented in accordance with the relevant time requirements specified by the Ministry of finance.
3. Accounting policies adopted by the company before change:
Before the change of accounting policy, the company shall implement the accounting standards for business enterprises - basic standards, various specific accounting standards, subsequent issued and revised accounting standards for business enterprises, application guide of accounting standards for business enterprises, interpretation announcement of accounting standards for business enterprises and other relevant provisions of the Ministry of finance.
4. Accounting policies adopted by the company after change:
After the change of accounting policies, the company shall implement the interpretation of Standards No. 14 and interpretation of Standards No. 15, and the original provisions shall still be implemented if there is no change or the implementation date is not reached.
2、 Impact of this accounting policy change on the company
This accounting policy change is a corresponding adjustment made by the company in accordance with the relevant provisions of the Ministry of finance, which complies with the provisions of relevant laws and regulations and the actual situation of the company, will not have a significant impact on the company's financial status, operating results and cash flow, and will not damage the interests of the company and all shareholders.
It is hereby announced.
Wuhu Conch Profiles And Science Co.Ltd(000619) board of directors March 26, 2022
